Gasoline Market Update : Epic Research Singapore

Back on Nymex, prices for refined oil products also ended lower. August gasoline RBQ6, +0.06%  fell 3.5 cents, or 2.5%, to $1.387 a gallon and August heating oil HOQ6, +0.07%  settled at $1.378 a gallon, down 2 cents, or 1.4%.

August natural gas NGQ16, +0.59%  fell 3.4 cents, or 1.2%, to $2.722 per million British thermal units.

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Oil Market Update : Epic Research Singapore

Oil futures settled lower on Monday, losing more than 1% as traders dismissed worries of supply disruptions from the attempted coup in Turkey.

August West Texas Intermediate crude CLQ6, -0.42%  fell 71 cents, or 1.6%, to settle at $45.24 a barrel on the New York Mercantile Exchange. It had traded as high as $46.14 overnight, according to FactSet. September Brent crude LCOU6, -0.32%  on London’s ICE Futures exchange declined by 65 cents, or 1.4%, to $46.96 a barrel.

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Silver Market Update : Epic Research Singapore

On Comex, September silver SIU6, -0.45% ended down 9 cents, or 0.5%, at $20.075 an ounce, but prices were still up about 7.8% month to date. Unlike gold, the white metal finished with a seventh week of gains on Friday. Silver futures midweek had settled near a two-year high due to both haven and industrial-use demand.

September copper HGU6, -0.11% rose less than half a cent to $2.237 a pound. October platinum PLV6, -0.46%  added $7.20, or 0.7%, to $1,101.60 an ounce. September palladium PAU6, -0.53% shed $1.35, or 0.2%, to $646.05 an ounce.

Among the exchange-traded funds, the SPDR Gold Trust GLD, +0.16%  traded nearly flat, while the VanEck Vectors Gold Miners ETF GDX, +0.37%  lost 0.4%.

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Silver Market Update : Epic Research Singapore

Meanwhile, September silver SIU6, -0.13% which has tended to uncouple from gold in recent sessions, eased 15.7 cents, or 0.8%, to settle at $20.165 an ounce, but, unlike gold, finished with a seventh week of gains, rising 0.3%.

Silver futures pulled back in Thursday trading after settling near a two-year high on Wednesday due to both haven and industrial-use demand.

September copper HGU6, -0.45%  fell 1 cent to settle at $2.234 a pound, up about 5.5% for the week. October platinum PLV6, -0.51%  shed $10.20, or 0.9%, to settle at $1,094.40 an ounce, with prices down 0.6% for the week. September palladium PAU6, -0.15%  settled at $647.40 an ounce, down $3.70, or 0.6%. It was ready to notch a weekly gain of 4.9%.

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Gasoline Market Update : Epic Research Singapore

On Nymex Thursday, August gasoline RBQ6, -0.60%  climbed 3.6 cents, or 2.6%, to $1.414 a gallon and August heating oil HOQ6, -0.43%  finished up 2.6 cents, or 1.9%, to $1.406 a gallon.

August natural gas NGQ16, -0.07%  fell a penny, or 0.4%, to settle at $2.727 per million British thermal units after the U.S. Energy Information Administration reported that supplies of the commodity rose 64 billion cubic feet for the week ended July 8. Analysts polled by S&P Global Platts expected an average rise of 60 billion cubic feet.

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Oil Market Update : Epic Research Singapore

Oil futures settled higher on Thursday to recoup nearly half of what they lost a day earlier, as traders held out hope that the recent price declines will help keep crude production at bay.

The dollar-denominated commodity also got an added boost after the Bank of England’s surprise decision to leave its key interest rate at a record low lifted the British pound GBPUSD, +0.8243% putting some pressure on the U.S. dollar.

August West Texas Intermediate crude CLQ6, -0.53%  rose 93 cents, or 2.1%, to settle at $45.68 a barrel on the New York Mercantile Exchange. Week to date, it has gained about 0.6% but was down nearly 6% for the month so far. September Brent crude LCOU6, -0.46%  on London’s ICE Futures exchange rose $1.11, or 2.4%, to end at $47.37 a barrel.

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Platinum Market Update : Epic Research Singapore

Elsewhere in metals, October platinum PLV6, -0.06%  rose $4.40, or 0.4%, to $1,104.60 an ounce, while September palladium PAU6, +0.28% edged up $6.90, or 1.1%, to $651.10 an ounce. September copper HGU6, +0.02%  added less than half a cent to $2.243 a pound.

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Aluminium futures were trading higher during the afternoon trade in the domestic market on Wednesday as speculators widened their bets amid increase in physical demand for aluminium in the domestic spot market after improving risk appetite on stronge US jobs data and hopes of more monetary stimulus from the central banks.

• Copper futures jumped by more than 1.5 per cent during noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal as expectations of global economic stimulus and geographical uncertainty surrounding the South China Sea after an international tribunal’s ruling that China had no territorial claims to it boosted the demand for the raw material.

• Silver futures rallied by more than 1 per cent during noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal tracking a bullish trend in the overseas market amid speculation of increased policy losing across the globe in the wake of Brexit bolstering the lure for the bullion a hedge against the inflationary risk of monetary stimulus.

TRADING STRATEGY :
BUY GOLD ABOVE 1344 TARGET 1349 1355 SL BELOW 1339
SELL GOLD BELOW 1336 TARGET 1331 1325 SL ABOVE 1341

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Natural Gas Market Update : Epic Research Singapore

Back on Nymex, August natural gas NGQ16, +0.69%  ended at $2.737 per million British thermal units, up less th an half a cent ahead of the EIA’s Thursday update on the commodity’s supplies.

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Oil Market Update : Epic Research Singapore

Oil futures fell more than 4% Wednesday, giving up just about all of their gains from a day earlier, after a government report revealed that U.S. output edged higher in the latest week, and supplies of gasoline and distillates saw sizable gains.

The report from the Energy Information Administration also showed that crude stockpiles fell a bit less than some analysts expected.

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Platinum Market Update : Epic Research Singapore

Elsewhere in metals, October platinum PLV6, -0.16%  added $2.30, or 0.2%, to $1,100.20 an ounce, while September palladium PAU6, +0.17%  gained $15.25, or 2.4%, to $644.20 an ounce.

September copper HGU6, +0.07%  added 2.7 cents, or 1.2%, to end at $2.24 a pound.

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Gold Market Update : Epic Research Singapore

 August gold GCQ6, -0.09%  gained $8.30, or 0.6%, to finish at $1,343.60 an ounce following a four-session decline.

Meanwhile, Silver futures returned to a nearly two-year settlement high on Wednesday, as the U.S. stock market paused their recent rally, providing a lift to gold prices, which marked their first climb in five sessions.

September silver SIU6, -0.11% which has been the highflier relative to gold in recent weeks, added 24.2 cents, or 1.2%, to settle at $20.413 an ounce. Silver, which has been getting an additional boost from its use as an industrial commodity, saw its highest settlement since late July 2014, according to FactSet.

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Copper Market Update : Epic Research Singapore

Moves for metals also come as the ICE U.S. dollar index DXY, -0.09% edged down 0.1% as the dollar eased against other chief rivals. Precious metals and the dollar often move inversely but can break that relationship from time to time.

Elsewhere in metals, September copper HGU6, +2.46% added 6.6 cents, or 3.1%, to $2.213 a pound. October platinum PLV6, +0.08%  fell $10.20, or 0.9%, to $1,097.90 an ounce, while September palladium PAU6, +0.32%  shed $3.20, or 0.5%, to $628.95 an ounce.

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Silver Market Update : Epic Research Singapore

Silver futures turned lower on Tuesday, surrendering what would have been a nearly two-year settlement high as a rally in U.S. equities tarnished the appeal of precious metals, including gold.

September silver SIU6, +1.38% pulled back, losing 13 cents, or 0.7%, to settle at $20.17 an ounce.

Silver had traded as high as $20.595 an ounce early Tuesday, buoyed by hedging demand and for its use as an industrial commodity. Prices for the white metal have posted gains in eight of the last nine trading sessions. Prices finished Monday at $20.304, the highest since August 2014, according to FactSet.

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Natural Gas Market Update : Epic Research Singapore

On Nymex, August natural gas NGQ16, -0.07%  settled at $2.734 per million British thermal units, up 3.2 cents, or 1.2%.

August gasoline RBQ6, -1.24%  tacked on 4.7 cents, or 3.4%, to $1.430 a gallon and August heating oil HOQ6, -0.81%  also added 4.7 cents, or 3.3%, to $1.463 a gallon.

At the retail level, GasBuddy.com pointed out that gasoline prices have been falling for 30 days straight despite strong demand for the fuel.

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Oil Market Update : Epic Research Singapore

Oil futures settled higher Tuesday, rebounding from a two-month low as a report from the Organization of the Petroleum Exporting Countries revealed forecasts for higher oil demand and lower production next year.

On the New York Mercantile Exchange, August West Texas Intermediate crude CLQ6, -0.49%  rose $2.04, or 4.6%, to settle at $46.80 a barrel. That was the highest finish since July 6, according to FactSet. September Brent crude LCOU6, -0.62%  gained $2.22, or 4.8%, to $48.47 a barrel on the ICE Futures exchange in London.

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Oil Market Update : Epic Research Singapore

Oil futures settled at their lowest level in two months on Monday after a survey revealed that crude production from members of the Organization of the Petroleum Exporting Countries has climbed to a nearly eight-year high.

The report exacerbates concerns that global output is set to climb as recent supply disruptions ease.

OPEC’s June crude production rose 300,000 barrels a day from a month earlier, to 32.73 million barrels a day, which is the highest level since August 2008, according to S&P Global Platts.

August West Texas Intermediate crude CLQ6, +0.58% lost 65 cents, or 1.4%, to settle at $44.76 a barrel on the New York Mercantile Exchange. The September contract for global benchmark Brent crude LCOU6, +0.61%  fell 51 cents, or 1.1%, to finish at $46.25 a barrel on the ICE Futures exchange in London.

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Copper Market Update : Epic Research Singapore

Elsewhere in metals, September copper HGU6, +0.33%  added 2.8 cents, or 1.3%, to settle at $2.148 a pound after ending 4% lower last week. October platinum PLV6, -0.67%  rose $7.90, or 0.7%, to finish at $1,108.10 an ounce, while September palladium PAU6, -0.69% tacked on $8.65, or 1.4%, to close at $625.75 an ounce.

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold prices slid lower on Friday, as investors awaited the highly-anticipated U.S. employment report due later in the day, but the precious metal remained close to Wednesday’s two-year peak as concerns over the global impact of the Brexit vote continued to dampen sentiment.On the Comex division of the New York Mercantile Exchange, gold futures for August delivery declined 0.36% to $1,357.35.

• Oil prices rebounded on Friday, bouncing off two-month lows hit in the previous session when prices fell 5 percent on news that the U.S. weekly crude draw missed some forecasts.Traders said that the outlook looked volatile as a refined product glut and slowing economic growth weighed on markets while the risk of supply disruptions could tighten supplies.

• Silver futures were trading lower during noon trade in the domestic market on Friday as traders resorted to a cautious approach ahead of the much anticipated US payrolls data for the month of June set for release today which may dictate the timing of the US Federal Reserve’s next interest rate hike.

TRADING STRATEGY :
BUY GOLD ABOVE 1370 TARGET 1375 1381 SL BELOW 1365
SELL GOLD BELOW 1360 TARGET 1355 1349 SL ABOVE 1365

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Copper futures were trading higher during the morning trade in the domestic market on Thursday led by rise in demand in the domestic markets tracking a weak trend in overseas markets.Analysts said that the weak cues at global markets and rise in demand at domestic spot markets followed by the release of the US Fed meeting minutes which showed that the majority of Fed members were cautious to adjust rates following poor US labour data and Brexit vote influenced the rise in copper futures.

• Oil prices edged higher on Thursday for a second day, supported by a report of another fall in U.S. crude oil inventories and a weaker U.S. dollar, although a glut of refined products and economic growth concerns continued to loom over the market. Brent crude oil futures were trading at $49.50 per barrel at 0857 GMT on Thursday, 70 cents above their last settlement. U.S. West Texas Intermediate (WTI) crude was trading at $48.08 per barrel, up 65 cents from its last close.

• Gold prices held near the prior session’s 28-month high in European trade on Thursday, as market players looked ahead to key U.S. employment data for more clues on the Federal Reserve’s next move.The U.S. was to release the ADP jobs report for June at 12:15GMT, or 8:15AM ET, followed byweekly jobless claims data at 12:30GMT, or 8:30AM ET. Market players are also focusing on Friday’s U.S. nonfarm payrolls report.

TRADING STRATEGY :
BUY GOLD ABOVE 1370 TARGET 1375 1381 SL BELOW 1365
SELL GOLD BELOW 1360 TARGET 1355 1349 SL ABOVE 1365

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